Summit Leasing Slovenija becomes a member of Nova KBM Group | NKBM

Today, Nova KBM (NKBM or the Bank) completed the acquisition of Summit Leasing Slovenija (SLS), one of the leading leasing companies in Slovenia. The transaction marks an important step towards realizing NKBM’s strategic goal of becoming the leading universal bank in Slovenia by expanding its product range with financial leasing services of the highest quality. As part of the NKBM Group, SLS will continue to operate as a separate entity under the leadership of the current management team and with the existing employees. In addition, SLS will benefit from the access to funding to support the future growth of its customers and will continue to focus on providing its customers with best-in-class customer service.

Summit Leasing Slovenija becomes a member of Nova KBM Group

Today, Nova KBM (NKBM or the Bank) completed the acquisition of Summit Leasing Slovenija (SLS), one of the leading leasing companies in Slovenia. The transaction marks an important step towards realizing NKBM’s strategic goal of becoming the leading universal bank in Slovenia by expanding its product range with financial leasing services of the highest quality. As part of the NKBM Group, SLS will continue to operate as a separate entity under the leadership of the current management team and with the existing employees. In addition, SLS will benefit from the access to funding to support the future growth of its customers and will continue to focus on providing its customers with best-in-class customer service.

Having received the required regulatory approvals and having met the conditions required to consummate the transaction, NKBM’s acquisition of 100% of SLS’s share capital has closed today.

Summit Leasing Slovenija will continue to operate under the SLS brand and will be run as a separate business led the current management team. In short, it will be business as usual for SLS, with the added benefit of strong financial backing from NKBM and vast opportunities for future development.

John Denhof, CEO of NKBM, commented: “Summit Leasing Slovenija perfectly complements NKBM’s existing services and will enable us to better serve the needs of our clients with an integrated and comprehensive product range for consumer financing. In addition, NKBM’s extensive distribution network and strong financial resources will provide SLS and its customers with ample new growth opportunities.”

Mitja Otorepec, CEO of Summit Leasing Slovenija, stated: “We are thrilled to become a member of the NKBM Group. Working closely with the Bank’s team, we will aim to further develop and expand our business model. SLS will benefit from cross-sale opportunities that originate in NKBM’s vast distribution network; SLS’ existing and new customers will benefit from an improved range of attractive financial service solutions. SLS will continue to focus on providing its customers with best-in-class customer service.”

Michele Rabà, a member of NKBM Supervisory Board, added: “This strategic acquisition marks another important step towards expanding NKBM’s product range and allowing NKBM to further enhance its consumer finance offering. SLS is a well-run company with an impressive track record, both in terms of its financial performance and client servicing capabilities. NKBM’s Supervisory Board is very pleased to welcome SLS into the NKBM family and we expect the acquisition to have a positive impact on the Bank’s operations.”

Following the successful completion of the merger of three banks (NKBM, PBS and KBS Banka), the acquisition of SLS marks another step in fulfilling the strategy of NKBM Group. In the first six months of the year, Nova KBM Group continued to make progress executing their new strategy as is evidenced by the half-year results published on 31 August 2017. For the period that ended on 30 June 2017, NKBM Group reported an unaudited net profit of €32.7 million. The Group will continue pursuing its vision of becoming the leading bank in Slovenia by 2020, by focusing on five strategic pillars:(i) client excellence, (ii) sustainable growth and profitability, (iii) effective risk management and strict compliance with all applicable regulations, (iv) operational efficiency and (v) a strong organizational culture and deep commitment to employee development.